Description
Huge 150k Price Reduction! 8 Unit building with 5 fully renovated vacancies in prime West Hollywood cash flowing at an amazing Current Cap Rate of 5% and 14.3 GRM from day 1! 1 Attached (1 bed/1bath) RTI ADU under construction which will improve the current financials to an incredible Current 5.7% Cap Rate, 12.8 GRM and only 416k/door after completion. Additional 24% upside to 6.6% Cap Rate and 11.5 GRM on the proforma. Diverse Unit Mix of 2 (2bed/1bath), 3 (1bed/1bath+den) and 3 (1bed/1bath) units. Individually metered for Gas & Electricity. RTI Plans for 1 Attached ADU in the storage area (Under Construction) + Prelim Plans for 2 Detached ADUs over the carport. All 5 units have been completely renovated and boast a high-end aesthetic with new modern cabinets, flooring, recessed lighting, new bathrooms, stainless steel appliances, washer/dryer inside, as well as major exterior capital improvements. This property is located in the heart of West Hollywood just minutes away from the iconic Sunset Strip, Beverly Hills, and within walking distance of many hip neighborhood attractions, restaurants, bars, and shops such as Delilah, Laurel Hardware, Employees Only, Bar Lubitsch, Formosa Cafe, and more popping up all around the area.
Location
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$49,900
6
8
7,942 Sq ft
ACTIVE
MLS# 23-276981
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IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed.
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Updated: 10th June, 2023 12:19 AM (UTC)
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed.
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed."
Updated: 10th June, 2023 12:19 AM (UTC)
Listing Agent: Armin Soleimani
Listing Office: Global Platinum Properties, Inc.